To enhance the growth and expansion of its presence in the digital asset market, Mercado Libre is joining the crypto industry by launching Mercado Coin. This cryptocurrency by Mercado Libre operates on Ethereum, Bitcoin, and the stablecoin that reflects the value of the dollar, allowing for greater flexibility in managing this type of digital investment. Additionally, it provides users with the ability to buy, sell, and hold these cryptocurrencies in their Mercado Libre account, integrating with their other branch: Mercado Pago, the financial services unit of Mercado Libre.
Mercado Coin presents itself as a very interesting alternative investment opportunity that generates a lot of interest among users who daily use these types of digital currencies for financial transactions and to purchase goods and services online. It incorporates advanced security measures to protect transactions and user funds.”
What is Mercado Coin and what is it used for?
Mercado Coin is a digital asset that aims to incentivize customers to make transactions within Mercado Libre and then use it for other purchases within the marketplace and obtain money. Furthermore, the custody and management of Mercado Coin will be handled by Ripio, the Argentine exchange that also operates in Brazil.
This cryptocurrency called Mercado Coin is a digital currency that is implemented as part of Mercado Libre’s customer loyalty program and is stored in the Mercado Pago app under the ‘Cripto’ button. It integrates with Mercado Pago, the online payment platform created by Mercado Libre, which allows users of Mercado Libre to securely and reliably conduct buying and selling transactions of products and services.
This digital currency follows the ERC-20 token standard of Ethereum and can be used to make purchases in the marketplace and to buy, sell, or store within the Mercado Pago app. The ERC-20 protocol establishes a set of standards that tokens must comply with in order to be considered ERC-20, ensuring their quality and security.”
Where can it be used?
In this first stage, Mercado Coin will only be available for Brazil and can only be used to make purchases within Mercado Libre. However, the goal is for it to be used outside of the platform and in other Latin American countries where Mercado Libre is present in the future.
Mercado Coin is designed to be used virtually and will have a variable price determined by the market’s supply and demand rules. Users can use their Mercado Pago account to buy cryptocurrencies in Mercado Coins, which facilitates the payment process.
Furthermore, there will be no defined limit on the issuance of these cryptocurrencies. Tokens will be issued as needed according to the definitions of Mercado Libre’s loyalty program, in order to dynamize the regional ecosystem of the marketplace, allowing it to offer increasingly relevant products and services that are at the forefront of digital markets.
The popularity of these types of digital assets and the growing adoption of ERC-20 tokens suggest that they have great growth potential in the future due to their security and reliability conditions for buying and selling cryptocurrencies, providing users with a wide variety of options and low fees. Additionally, these digital investment alternatives are highly liquid, meaning they can be easily bought and sold in cryptocurrency markets.
Década advises you so that you can make the most of this digital investment alternative.
Our mission is to accompany you step by step so that you can become a Professional Seller on Mercado Libre and make the most of all the opportunities and benefits you have on Mercado Libre. By having Mercado Coin, the digital asset that the Marketplace offers you, you will have the option to diversify your portfolio and have another alternative and secure investment opportunity that will also encourage more transactions within this Latin American e-commerce platform that has expanded its presence in the world of cryptocurrencies with Mercado Coin. Do not hesitate to contact us for advice! and make the most of all the opportunities and benefits you have on Mercado Libre. By having Mercado Coin, the digital asset that the Marketplace offers you, you will have the option to diversify your portfolio and have another alternative and secure investment opportunity that will also encourage more transactions within this Latin American e-commerce platform that has expanded its presence in the world of cryptocurrencies with Mercado Coin. Do not hesitate to contact us for advice!